Wednesday, September 14, 2016

New Property Assessment Roll is Out. How Did Your Area Fare?

The city of Montrea released its triennial property roll this morning. Property values are up across the board, though the rate of increase varies widely depending on the property type and borough or municipality within Greater Montreal.

In brief, the value of the average Montreal home rose by 4.6 per cent, while the value of the average condo rose by a scant 2.2 per cent. The one type that saw a big jump was the multi-unit building with six or more apartments. The average value rose by a whopping 13.2 per cent.

The city takes a snapshot of property values once every three years and sets property taxes according to the value. The snapshot the city is using for this roll was taken in July, 2015. The new roll will apply from 2017 through 2019.

Of course, the increase in a property's value is only one half of the equation. We now wait to see what mill rate will apply in each of the boroughs and municipalities. The mill rate is the tax per $100 of property value. In Verdun, the basic 2016 mill rate was 0.5795cents per $100. In the Plateau, the base rate was set at 0.6562 cents per $100.

The new budget should be out mid November.

You can check your new evaluation by visiting the city's web site here and then click on "Consultation du role foncier" in the left margin. Enter the robot-fooling alpha-numeric code and then enter your civic number and street name. Have fun.

In the meantime, here's a map that shows how evaluations have risen across the island since the last roll was created.

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